As we can see, Bonk broke through its consolidations with strong buying power. however, meme coins tend to have much higher volatility, right now it has peaked almost to ATH and going down to the previous resistance level for a retest. Where I believe would have a quick flash dump to get the liquidity and then the candle will soon recover back to the top. Traders should be careful about their SL where they thought it would be safe to place under the resistance.
If the flash dump comes true, but the candle failed to show strong recovering power, then bonk would heading lower to its previous resistance of the consolidation phase for more liquidity grab. But if it recovered fast and the market provides with a second green candle for confirmation, then bonk would reach its new all time high. I would place a "risky" long position where the majority of the trader would place their SL.
If the flash dump comes true, but the candle failed to show strong recovering power, then bonk would heading lower to its previous resistance of the consolidation phase for more liquidity grab. But if it recovered fast and the market provides with a second green candle for confirmation, then bonk would reach its new all time high. I would place a "risky" long position where the majority of the trader would place their SL.
노트
AS I PREDICTED! 0.00024609. I TOLD YOU
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